Out of the total Fael Khair Program (FKP) fund of million, million has been allocated to the Rehabilitation of Cyclone Victims Program. The program aims to provide urgent relief to the victims in the form of agricultural inputs and support for small businesses. In order to implement the program, the IDB has signed five three-year (extendable) agreements with four NGOs that would implement the program, providing interest-free microloans as well as training to the cyclone victims in order to help them make up for their losses and live a decent life. When the agreement period of three years is over, NGOs are to return the funds by depositing them into the Fael Khair Waqf account in Bangladesh. The Committee of Mutawallis would then take action on whether to renew agreements with the four NGOs now implementing the program or to sign new agreements.

In order to implement the Rehabilitation part of the Fael Khair Program, the IDB selected four NGOs with extensive experience in microfinance. Up to date, five agreements have been signed with four NGOs with a total fund of million. As of today. three of the four NGOs who started implementing this program still continue to do so. BRAC, the one NGO who chose not extend its contract, fully returned the remaining principal fund (after some provision for admin fees has been deducted) on 25 July 2012.

The IDB hired a highly specialized law office to follow up on registration of the Fael Khair Waqf. The Deed of Waqf has been completed and registered in the courts of Bangladesh. The FKW was exempted by the GoB (Government of Bangladesh) from registration fees as well as from having to pay to the Awqaf. The legal office followed up on registration of the FKW until it was finally registered on 24 October 2010. However, the delay in registration of the FKW did not affect progress of the rehabilitation program as the four NGOs normally continued their operations during the registration period.

In accordance to the Waqf Deed under the FKP, the first meeting of the Committee of Mutawallis was held in Dhaka on 24 May 2011 chaired by H.E. the President, IDB. The meeting mainly discussed the different activities of the rehabilitation program, progress made, and the four NGOs implementing the program.

In August 2012, the NGO's cooperating with IDB to implement the activities of the Fael Khair Wakf were instructed to start implementing their exit plan by repatriating one third of the Program fund back to the Fael Khair Wakf. It was then up to the Committee of Mutawallis do decide how to use the repatriated funds. Up to now, the repatriated funds were put in Islamic investment with turnovers as high as 7% p.a. The returns will be mainly used to cover the admin cost of the Fael Khair Rehabilitation Program.

Three Aid Organizations

Work Progress of the Rehabilitation Program

The NGO's have recruited and trained some 774 staffs and are operating through 80 field offices in the areas most impacted by the cyclone. Up to June 2017, quard amounting to BDT 10.257 billion (roughly 149.8 million US dollars) has been disbursed to 611,707 beneficiaries, with the implication that principal fund of the program (amounting to million) has been recycled 749%. Quard repayment rate was as high as 99.75%. In addition, 287,440 beneficiaries were trained through 7,881 training courses on agriculture, cattle rearing, and fishing and fish farming.